NIDHI COMPANY REGISTRATION IN BOTANICAL GARDEN NEW DELHI
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Why Should I Use Auriga Accounting For NIDHI COMPANY REGISTRATION IN BOTANICAL GARDEN NEW DELHI ?
Auriga Accounting has a team of registration experts who can provide complete guidance to Register your Nidhi Company In Botanical Garden New Delhi.
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Our team of experts will get in touch with you and collect all necessary documents and details
Resolve all your queries
We fill out and file your application for registration
Complete your registration
Your Nidhi Company is registered
Why Should I Use Auriga Accounting For NIDHI COMPANY REGISTRATION IN BOTANICAL GARDEN NEW DELHI ?
Auriga Accounting has a team of registration experts who can provide complete guidance to Register your Nidhi Company In Botanical Garden New Delhi.
book appointment
Our team of experts will get in touch with you and collect all necessary documents and details
Resolve all your queries
We fill out and file your application for registration
Complete your registration
Your Nidhi Company is registered
NIDHI COMPANY REGISTRATION IN BOTANICAL GARDEN NEW DELHI online process ,fees , Documents Required
Nidhi Companies primarily serve their members’ savings and lending needs within a closed group, functioning similar to mutual benefit societies. NBFCs engage in a range of financial activities, including lending, investments, and deposit-taking, but Nidhi Companies cannot engage in external borrowing or lending. Microfinance Companies focus on providing financial services, particularly credit, to low-income individuals and small businesses. Unlike Nidhi Companies, NBFCs, including Microfinance Companies, operate under RBI regulations and require registration. While both NBFCs and Microfinance Companies serve broader clientele, Nidhi Companies are restricted to their members, distinguishing them in their operational scope and regulatory requirements.
What is Nidhi Company ?
A Nidhi Company is a type of non-banking financial institution recognized under Indian law. It primarily deals with borrowing and lending money within its members, with the aim of cultivating thrift and savings habits among its members. Nidhi Companies are mutual benefit societies and function similar to a cooperative bank, but they are regulated by the Ministry of Corporate Affairs rather than the Reserve Bank of India. These companies accept deposits and provide loans to their members, fostering a culture of savings and financial inclusion, particularly in rural and semi-urban areas.
Nidhi Company as per Company's act ?
A Nidhi Company is a type of non-banking financial institution recognized under Section 406 of the Companies Act, 2013 in India. Its primary objective is to cultivate the habit of thrift and savings among its members. Nidhi Companies accept deposits from members and provide loans to them, predominantly for home building or other purposes related to their welfare. These companies are formed as public limited companies and are subject to strict regulations regarding their operations, particularly concerning the acceptance of deposits and lending activities. They do not require Reserve Bank of India (RBI) approval for registration.
ELIGIBLIE for NIDHI COMPANY REGISTRATION IN BOTANICAL GARDEN NEW DELHI
- Minimum number of members: A Nidhi Company must have a minimum of 200 members or shareholders within one year of its incorporation.
- Mutual Benefit: A Nidhi Company is formed for the mutual benefit of its members. It aims to cultivate the habit of thrift, savings, and providing funds for mutual benefit.
- Membership Restriction: Membership in a Nidhi Company is limited to individuals only. Non-individuals, such as companies or other entities, cannot become members of a Nidhi Company.
- Capital Requirements: The minimum paid-up equity share capital required for a Nidhi Company is Rs. 5 lakh (INR 500,000). The company must have a net owned fund of at least Rs. 10 lakh (INR 1,000,000).
- Compliant with Nidhi Rules: The Nidhi Company must comply with the rules and regulations prescribed by the Ministry of Corporate Affairs (MCA) specifically for Nidhi Companies.
- Compliance: Incorporators must comply with the requirements and procedures set forth by the Companies Act 2013 and the Nidhi Rules, such as filing the necessary documents, paying fees, and adhering to other legal obligations.
Benefits of NIDHI COMPANY REGISTRATION IN BOTANICAL GARDEN NEW DELHI
Collective Savings: Members pool their resources for savings and lending, fostering a culture of thrift and financial discipline.
Mutual Assistance: Provides financial assistance to members in need, promoting community support and solidarity.
Lower Interest Rates: Offers loans at reasonable interest rates, often lower than those provided by traditional financial institutions.
Minimal Regulatory Compliance: Subject to less stringent regulatory requirements compared to other types of financial institutions.
No External Funding Dependency: Relies on member contributions and deposits, reducing dependency on external funding sources.
Limited Liability: Members enjoy limited liability, protecting personal assets from business risks and liabilities.
Long-term Relationships: Builds long-term relationships between members and fosters a sense of trust and cooperation.
Local Economic Development: Promotes economic development by channeling funds within the community, supporting local businesses and initiatives.
Democratic Management: Operates on democratic principles where members have a say in decision-making processes.
Financial Inclusion: Provides access to financial services to underserved communities, promoting financial inclusion and empowerment.
Minimum Requirement of NIDHI COMPANY REGISTRATION IN BOTANICAL GARDEN NEW DELHI
- A Minimum number of 7 (Seven) Members is required.
- A minimum number of 3 (Three) Directors is required.
- 10 lakhs Minimum Paid-up capital is required.
Auriga Accounting Private Limited in Delhi provide our Nidhi Registration service in all over Delhi, Malviya Nagar, Hauz Khas, Lajpat Nagar, Saket etc. top brands and company with us. we also provide our services all over India. Our company connected with many states. Our Office are situated in khirki village, Malviya Nagar, New Delhi.
Documents of NIDHI COMPANY REGISTRATION IN BOTANICAL GARDEN - DELHI
- Scanned copy of PAN card or passport (foreign nationals & NRIs)
- Scanned copy of voter ID/Aadhar Card/ Driving Licenses
- Scanned copy of the latest bank statement
- Scanned copy of the electricity or gas bill
- Scanned passport-sized photograph specimen signature (blank document with signature (directors only)
Reasonable Price for Filling NIDHI COMPANY REGISTRATION IN BOTANICAL GARDEN NEW DELHI
Auriga Accounting Private Limited in India provides Company Registration at a reasonable price or if you registered your Nidhi Limited from us then. we give you a special discount. Our services are value for money and you never paid a penalty. Our clients are all over India i.e., Chhattisgarh, Assam, Maharashtra, Uttar Pradesh, Delhi, Madhya Pradesh, Bihar, and many other states, and they are very happy with us. We also give you time-to-time updates with full transparency.
What you get after Company Registration?
- Certificate of Incorporation (COI)
- Company Memorandum of Association (MOA)
- Company Articles of Association (AOA)
- Company Pan Card
- Company Tan Card
- Class 3 Digital Signature (DSC)
- Director Identification Number (DIN)
PROCESS of NIDHI COMPANY REGISTRATION IN BOTANICAL GARDEN NEW NEW DELHI
- Apply for Digital Signature Certificate (DSC): The first step is to obtain a Digital Signature Certificate for all the proposed directors of the company. This certificate is necessary for filing electronic documents with the Registrar of Companies (ROC).
- Apply for Director Identification Number (DIN): Each proposed director must obtain a unique Director Identification Number by submitting an application to the Ministry of Corporate Affairs (MCA).
- Apply for Name Reservation: Choose a unique name for the company and submit an application for name availability to the ROC. The name should comply with the naming guidelines provided by the MCA.
- Prepare Memorandum of Association (MOA) and Articles of Association (AOA): Draft the MOA and AOA, which define the company’s objectives, activities, and internal regulations. These documents need to be stamped and signed by the subscribers.
- File Incorporation Documents: Prepare the necessary incorporation documents, including the MOA, AOA, and other required forms. These documents need to be filed electronically with the ROC through the MCA portal, along with the prescribed fees.
- Payment of Stamp Duty: Pay the applicable stamp duty on the authorized share capital of the company. This can be done online or through designated bank branches.
- Verification and Approval: The ROC will examine the filed documents and may request additional information or clarifications. Once satisfied, the ROC will issue a Certificate of Incorporation, indicating the successful incorporation of the public company.
- Issuing of Certificate of Incorporation, PAN and TAN : Post approval of Documents from Ministry of corporate affairs’ the department issue documents such as PAN,TAN and Certificate of Incorporation.
- Post-Incorporation Compliance: After incorporation, the company must fulfill certain post-incorporation compliance requirements, such as issuing share certificates, holding the first board meeting, and appointing an auditor.
Compliance of NIDHI COMPANY REGISTRATION IN BOTANICAL GARDEN NEW DELHI
- Any public company incorporated as Nidhi with a share capital of Rs 10 lakh will have to submit an NDH-4 form and apply with the central government to be notified as a Nidhi company within 120 days of its incorporation.
- The company needs to have at least 200 members and should have a net-owned fund (NOF) of Rs 20 lakh.
- Nidhi Company to obtain consent from the central government to operate within 14 months from their incorporation
- If a company does not receive any intimation from the Central government within 45 days of submitting the NDH-4 form, the approval would be deemed to be granted.
Auriga Accounting Private Company files Nidhi Company Compliance within Minimum Prize with full of satisfaction. Auriga Accounting always connected with you and helps you in every stage.
Obligation Of NIDHI COMPANY REGISTRATION IN BOTANICAL GARDEN NEW DELHI
Within 1 year of registration as a NIDHI company, the following requirements need to be ensured by the Nidhi Company.
- They must have at least 200 members.
- Its minimum capital must be at least ₹10,00,000.
- Burdenless term deposits should account for at least 10% or more of total deposits.
- The net owned funds to deposits ratio cannot be more than 1:20
Why Auriga Accounting?
- Time to Time updates – We will keep you updated from time to time about Nidhi Company’s compliances and Nidhi Company Registration. so that, it becomes easy for you to operate it and you do not have to face any penalty.
- 200 Strong Team – Auriga Accounting have a team of over 300 experienced business advisors and legal professionals, which will always be available for you. so that, wherever you stay, you need any knowledge or need any paper, Auriga Accounting are always with you.
- Access To Experts – We provide access to reliable professionals and coordinate with them to fulfil all your legal requirements. You can also track the progress on our online platform, always.
Frequently Asked Questions (FAQs)
Nidhi Companies are regulated by the Ministry of Corporate Affairs (MCA) in India. They are also governed by rules set out in the Companies Act 2013.
No, you don't need to be present in-person to start a Nidhi Company. The whole process can often be done online. You need to fill in the right forms and provide the necessary documents.
Rule 10 of Nidhi Rules, 2014, states that a Nidhi Company must open at least three branches only after it has gained 1000 members. Also, these branches must be within the district where the registered office of the Nidhi Company is located.
Yes, a Nidhi Company can give a vehicle loan. Yet, there are specific rules and limits to follow. Always check the current rules and regulations when planning for a loan.
Rule 12 of Nidhi Company refers to the provision under the Nidhi Rules, 2014, which specifies the requirements and restrictions related to the appointment of a statutory auditor for the company.
No, to apply for a loan from a Nidhi firm, you must be a registered member. Non-members are not allowed to avail themselves of the loan facility.
Each share issued by a Nidhi company must have a minimum par value or face value of ₹ 10 (ten rupees).
In accordance with the Companies Act, 2013, the Companies Act allows a company to distribute dividends up to a maximum of 10% of its paid-up share capital, free reserves, and securities premium account, provided that there are sufficient profits available.
No, a Nidhi company is prohibited from issuing preference shares. It can only issue equity shares to its members.
You must adhere to the requirements of the Nidhi Rules, 2014 in order to diversify the activities of a Nidhi firm. This includes obtaining necessary approvals, fulfilling capital requirements, and adhering to the prescribed procedures for opening branches or extending operations.
While the decision to dissolve a Nidhi company is subjective, you may consider reviewing your business strategy, promoting the company's benefits, and exploring avenues to attract more representatives before considering dissolution.
Yes, members of a Nidhi corporation may deposit cash into the general fund or withdraw it. However, such transactions must adhere to the policies and guidelines controlling the company's activities.
Depending on the internal policies of the firm, different qualifications may be needed to join a Nidhi company as a representative. Talk to our experts to know more about the same.
The limit for cash deposit by representatives of a Nidhi company is determined by the company's internal policies. It is advisable to refer to the company's rules and guidelines regarding cash deposits by representatives.
No, a Nidhi company is different from a Chit Fund. A Nidhi company primarily deals with accepting deposits and providing loans to its members, while a Chit Fund operates as a type of savings scheme where subscribers contribute to a common pool and receive periodic payouts through an auction process.
The fees for closing a Nidhi company in India may vary depending on various factors such as the company's capital, assets, liabilities, and the applicable regulations. It is recommended to consult a legal professional or a chartered accountant to determine the specific fees and procedures for closing a Nidhi company.
Yes, as per the Nidhi Rules, 2014, a director of a Nidhi company can avail of a loan from the company, subject to certain conditions. The loan should be in accordance with the company's lending policies, and the director should disclose his/her interest in the transaction and abstain from participating in the board decision regarding the loan.
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Basic
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- Certificate of Incorporation (COI)
- Company Pan Card
- Company Tan Card
- Memorandum of Association (MOA)
- Articles of Association (AOA)
- Class 3 Digital Signature (DSC)
- Director Identification Number (DIN)
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- Issuing of share certificate
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- Trademark Registration
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